Schwab Charles Investment Management Inc. Grows Position in Shutterfly, Inc. (SFLY)
Schwab Charles Investment Management Inc. increased its position in Shutterfly, Inc. (NASDAQ:SFLY) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,375 shares of the technology company’s stock after acquiring an additional 18,114 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.69% of Shutterfly worth $10,927,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Shutterfly by 4.0% during the 2nd quarter. State Street Corp now owns 979,974 shares of the technology company’s stock worth $46,554,000 after purchasing an additional 37,889 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in shares of Shutterfly by 33.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 578,988 shares of the technology company’s stock worth $28,069,000 after purchasing an additional 146,055 shares during the period. Bank of Nova Scotia purchased a new position in shares of Shutterfly during the 2nd quarter worth $1,188,000. Vanguard Group Inc. raised its position in shares of Shutterfly by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,903,180 shares of the technology company’s stock worth $137,902,000 after buying an additional 64,361 shares during the period. Finally, Cipher Capital LP raised its position in shares of Shutterfly by 13.3% in the 2nd quarter. Cipher Capital LP now owns 90,770 shares of the technology company’s stock worth $4,312,000 after buying an additional 10,626 shares during the period.
In related news, SVP Satish Menon sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $42.30, for a total transaction of $1,057,500.00. Following the transaction, the senior vice president now owns 38,221 shares in the company, valued at $1,616,748.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael W. Pope sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $42.08, for a total transaction of $1,472,800.00. Following the transaction, the chief financial officer now owns 17,500 shares in the company, valued at approximately $736,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,719 shares of company stock worth $3,046,475. Corporate insiders own 0.80% of the company’s stock.
Shutterfly, Inc. (NASDAQ:SFLY) opened at $49.87 on Friday. Shutterfly, Inc. has a 12-month low of $39.76 and a 12-month high of $53.99. The company has a market cap of $1,548.06, a PE ratio of 262.47 and a beta of 0.84.
Shutterfly (NASDAQ:SFLY) last issued its earnings results on Tuesday, October 24th. The technology company reported ($0.78) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.79) by $0.01. Shutterfly had a net margin of 0.81% and a return on equity of 4.66%. The firm had revenue of $195.44 million for the quarter, compared to analysts’ expectations of $191.65 million. During the same quarter last year, the company posted ($0.86) earnings per share. Shutterfly’s revenue was up 4.3% on a year-over-year basis. sell-side analysts predict that Shutterfly, Inc. will post 0.45 earnings per share for the current fiscal year.
SFLY has been the topic of several research reports. ValuEngine lowered Shutterfly from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Goldman Sachs Group reiterated a “neutral” rating and issued a $47.00 price target on shares of Shutterfly in a report on Wednesday, October 11th. Aegis reiterated a “buy” rating and issued a $57.00 price target on shares of Shutterfly in a report on Wednesday. Finally, Zacks Investment Research upgraded Shutterfly from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.60.
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Shutterfly Company Profile
Shutterfly, Inc is an online manufacturer and retailer of personalized products and services. The Company focuses on helping consumers manage their memories through the medium of photography. The Company’s segments are Consumer and Shutterfly Business Solutions (SBS). The Consumer segment offers photo-based products, such as photo books, stationery and greeting cards, other photo-based merchandise, photo prints and statement gifts.
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